South Korean tech giants Samsung Electronics and LG are likely to see contracted earnings in the third quarter due to sluggish smartphone sales, market analysts said Monday. Local financial data provider FnGuide recently set the market consensus for Samsung Electronics’ operating profit for the July-September period at 7.6 trillion won ($6.8 billion). The figure is a more than 8 percent fall from the same period last year and 1 trillion won below market expectations before reports of the Galaxy

Technology Sept. 26, 2016

Having proved his competence as a CEO at LG Display and chemical firm LG Chem’s battery business over the course of 10 years, Kwon Young-soo is aiming for similar success as chief executive of network carrier LG Uplus.The story of Kwon and Apple chief Tim Cook planting two apple trees together at LG Display’s manufacturing complex in 2010 to celebrate the partnership between the two companies shows his ability to establish amicable relationships with global business partners - a trait needed for

Technology Sept. 25, 2016

Foreign students who attended the 2016 Global Friendship Tour hosted by Hyundai Motor pose at the auditorium of Inha University on Friday. Hyundai Motor provided 400 foreign students studying in Korea with opportunities to experience Korean culture through the tour. (Hyundai Motor)

Mobility Sept. 25, 2016

South Korea’s battery and chemical company LG Chem said Sunday it set a goal of reaching 7 trillion won ($6.3 billion) in sales for electric vehicle batteries by 2020. The battery-maker also plans to start the construction of its EV plant in Poland this year, marking its third global presence after the US and China. “We aim to become the No. 1 electric car battery-maker by 2018 in terms of market position, technology and profitability by leading the EV market poised to grow,” said Lee Woong-beom

Technology Sept. 25, 2016

JEJU CITY, Jejudo -- German auto giant BMW invited the press on Friday to get behind the wheel of its flagship model 750Li xDrive on Jejudo, a resort island off the southern coast of South Korea, to mark its 100th anniversary. The new gasoline model, which delivers maximum 450 horsepower with a 66.3 kilogram-meter torque, offered peppy acceleration, breaking the stereotype that the feel of a large sedan is slow and heavy. It offered comfort driving below 3,000 revolutions per minute.The highligh

Mobility Sept. 25, 2016

A number of South Korean businesses were forced to halt their production and assembly lines for safety inspections Tuesday, one day after a powerful quake rocked the country.Nearly a dozen major industrial facilities, including a power plant, had their operations halted after a 5.8 magnitude earthquake jolted the nation, according to the commerce ministry.The quake was the strongest ever to be recorded on the Korean Peninsula, the Korea Meteorological Administration has said.The nation’s largest

Industry Sept. 13, 2016

LG Electronics confirmed Monday that it has no plan to roll out its new premium smartphone V20 in Europe for the time being. “We have no plan to roll out V20 in Europe for the time being because there is less demand for smartphones with big screens in the region compared to Korea or North America,” Seoul-based LG Electronics’ spokesperson told The Korea Herald.However, he cautiously added, “The plan may still be changed in the future,” citing that the previous model V10 was also launched in Euro

Technology Sept. 12, 2016

Hydrogen fuel-cell cars may eventually become a common sight on Korean roads as the government and the nation’s largest automaker Hyundai Motor are making efforts to spread usage of the new eco-friendly vehicles. Hyundai Motor said Monday it would launch taxi and car-sharing businesses with its hydrogen powered cars in the nation, a move which came a month after the government set up a control tower to boost the growth of eco-friendly cars.  (Yonhap)The automaker said it plans to start its pilot

Mobility Sept. 12, 2016

Hanjin Shipping still faces financial challenges even after its container ship safely began unloading at the US port, industry watchers said Sunday. Hanjin Shipping’s container ship Hanjin Greece was able to dock at the Port of Long Beach on Saturday after the US bankruptcy court granted the company provisional protection from creditors in the United States. Still, market watchers said the cash-strapped shipping company needs an estimated 170 billion won ($150 million) to complete the unloading.

Industry Sept. 11, 2016

Renault Samsung’s latest rollout SM6 diesel is ready to repeat the popularity of its gasoline model unveiled early this year. During a test drive last week, the new diesel model offered a stable driving experience at speeds of more than 100 kilometers per hour. The vehicle got 15.5 kilometers per liter on a 900-kilometer round-trip between Seoul and Tongyeong, located on the nation’s southern coast. It is slightly lower than its official fuel efficiency of 17 kilometers per liter apparently as t

Mobility Sept. 11, 2016

Samsung Electronics is urging consumers worldwide to stop using Galaxy Note 7 smartphones immediately and exchange them as soon as possible, as more reports of the phones catching fire emerged even after the company’s global recall.The call from the South Korean company, the world’s largest smartphone maker, comes after US. authorities urged users to switch the Galaxy Note 7 off and not to use or charge it during a flight. Several airlines around the world asked travelers not switch on the jumbo

Technology Sept. 11, 2016